Moors & Cabot Inc. Purchases New Shares in Arista Networks, Inc. (NYSE:ANET)

Moors & Cabot Inc. purchased a new stake in shares of Arista Networks, Inc. (NYSE:ANET) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,405 shares of the technology company’s stock, valued at approximately $390,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of ANET. Sheets Smith Wealth Management purchased a new stake in Arista Networks in the first quarter worth $304,000. RFP Financial Group LLC increased its stake in Arista Networks by 169.2% in the second quarter. RFP Financial Group LLC now owns 175 shares of the technology company’s stock worth $28,000 after purchasing an additional 110 shares during the period. Hollencrest Capital Management purchased a new stake in Arista Networks in the first quarter worth $30,000. TFC Financial Management Inc. increased its stake in Arista Networks by 131.0% in the first quarter. TFC Financial Management Inc. now owns 194 shares of the technology company’s stock worth $33,000 after purchasing an additional 110 shares during the period. Finally, McIlrath & Eck LLC increased its stake in Arista Networks by 139.6% in the first quarter. McIlrath & Eck LLC now owns 254 shares of the technology company’s stock worth $43,000 after purchasing an additional 148 shares during the period. Hedge funds and other institutional investors own 67.13% of the company’s stock.

Arista Networks Stock Performance

Arista Networks stock opened at $214.63 on Friday. The stock has a 50-day moving average of $193.50 and a two-hundred day moving average of $175.29. Arista Networks, Inc. has a one year low of $107.57 and a one year high of $218.36. The stock has a market cap of $66.77 billion, a PE ratio of 35.77, a price-to-earnings-growth ratio of 1.87 and a beta of 1.12.

Analyst Ratings Changes

A number of analysts have weighed in on ANET shares. Argus increased their target price on Arista Networks from $195.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. Rosenblatt Securities increased their price target on Arista Networks from $190.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, September 14th. William Blair reissued an “outperform” rating on shares of Arista Networks in a research report on Tuesday, October 31st. JMP Securities increased their price target on Arista Networks from $200.00 to $215.00 and gave the stock a “market outperform” rating in a research report on Tuesday, October 31st. Finally, Morgan Stanley raised Arista Networks from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $185.00 to $220.00 in a research report on Tuesday, October 31st. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, Arista Networks has a consensus rating of “Moderate Buy” and a consensus price target of $214.72.

Insider Buying and Selling at Arista Networks

In other news, SVP Marc Taxay sold 5,301 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $196.99, for a total value of $1,044,243.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Jayshree Ullal sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $217.00, for a total value of $4,340,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,723,500 shares in the company, valued at $373,999,500. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Marc Taxay sold 5,301 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $196.99, for a total value of $1,044,243.99. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 177,264 shares of company stock worth $35,548,692. 18.99% of the stock is owned by insiders.

Arista Networks Profile

Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms.